Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2024
The amendment provides that a foreign national or non-resident Indian shall be permitted to provide self-declaration of securities lost or misplaced or stolen which shall be duly notarised or apostilled or consularised in their country of residence, along with self-attested copies of valid passport and overseas address proof.
Companies (Indian Accounting Standards) Second Amendment Rules, 2024
A seller-lessee shall apply Lease Liability in a Sale and Leaseback retrospectively in accordance with Ind AS 8 to sale and leaseback transactions entered into after the date of initial application.
Competition Commission of India (Combinations) Regulations, 2024
Where the CCI is of the prima facie opinion that a proposed combination of enterprises has caused or is likely to cause appreciable adverse effect on competition within the relevant market in India, the Secretary shall convey the direction of the Commission to the person who has given notice, to publish the details of the combination within seven days of such direction.
Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2024
The amendment provides that where the transferor foreign company incorporated outside India being a holding company and the transferee Indian company being a wholly owned subsidiary company incorporated in India, enter into merger or amalgamation, both the companies shall obtain the prior approval of the Reserve Bank of India and application shall be made by the transferee Indian company to the Central Government along with a declaration.
DoT and TRAI are taking collaborative steps to enhance the user experience of users of telecom services
In parallel, with an objective of improving the network performance, benchmarks are to be gradually tightened for key network parameters like network availability, call drop rates, packet drop rates, etc. In this regard, TRAI has released its revised regulations, “The Standards of Quality of Service of Access (Wirelines and Wireless) and Broadband (Wireline and Wireless) Service Regulations, 2024. These regulations will come into effect from October 01, 2024 and from 1st April 2025 monthly monitoring of QoS performance of mobile service will be started instead of quarterly basis.
DoT simplifies approval processes for telecom licenses and wireless equipment
All the applications of Equipment Type Approvals (ETA) for license-exempt wireless devices will now be granted on a self-declaration basis. Applicants can submit their applications through the SARAL Sanchar portal (https://saralsanchar.gov.in/), where they can download their ETA certificates upon successful submission. This self-declaration process is expected to significantly reduce the time and effort required for approvals, benefiting companies looking to deploy wireless equipment in the Indian market.
Extension of Last date to submit applications (fresh & renewal) under National Means cum Merit Scholarship Scheme for Year 2024-25 up to 30.09.2024 on National Scholarship Portal
The last date for submission of applications by the selected meritorious students on the National Scholarship Portal (NSP) for the National Means cum Merit Scholarship Scheme (NMMSS) for the year 2024-25 has been extended upto 30.09.2024. The NSP portal is open for submission of applications by students w.e.f 30th June, 2024. In this project year 2024-25, the selected students are first to do a One Time Registration (OTR) on the NSP ,after which they have to apply for the scholarship scheme that they have selected. The FAQ details for registration on NSP can be accessed at https://scholarships.gov.in/studentFAQs.
Insulated Flask, Bottles and Containers for Domestic Use (Quality Control) Amendment Order, 2024
The scope of the orders is extended to apply to goods or articles domestically manufactured or imported before the date of commencement of this Order by the manufacturer certified by the Bureau or manufacturer who has applied to the Bureau for certification or by the importer for the relevant goods and articles and such manufacturer or importer shall be permitted to sell or display or offer to sell such declared stock up to six months from the date of commencement of the amendment order
CBDT extends income tax exemption to ‘Advanced Manufacturing Technology Development Centre (PAN: AAEAA9272B), Chennai’
This Notification shall apply with effect from the date of publication in the Official Gazette (i.e. from the Previous Year 2024-25) and accordingly shall be applicable for Assessment Years 2025-2026 to 2029-2030.
CBIC clarification implicating Customs Brokers as co-noticee in cases involving interpretative disputes
It is clarified that implicating Customs Brokers as co-noticee in a routine manner, in matters involving interpretation of statute, must be avoided unless the element of abetment of the Customs Brokers in the investigation is established by the investigating authority. Further, the element of abetment should be clearly elaborated in the Show Cause Notice.
